XRP price has been doing very well today, rising 14 percent in the past 24 hours to $0.525. Less than five days ago, XRP dropped below $0.40. Impressive, but according to cryptocurrency analysts, it could get much better.

Bollinger Bands Indicate New Increase in XRP Price

Cryptocurrency analysts are expecting a significant increase in XRP prices, based on the so-called Bollinger Bands. This widely used indicator indicates low volatility when the bands tighten, which is historically often followed by a massive breakout.

In 2017, a similar Bollinger Band signal led to a staggering 55,000% increase in XRP prices, with the altcoin hitting an all-time high of $3.40. This signal occurred again at the end of 2020, and in 2021, XRP prices surged to almost $2.

The current Bollinger Bands are again indicating a potential massive price increase.

1 XRP price is the next target

With Bollinger Bands indicating another price breakout, analysts are suggesting that the XRP price is poised for an impressive rally. This could potentially push the altcoin above the important $1 price barrier, which is almost double its current price level.

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